scholarly journals Continuity and Change in Societies in Post-Socialist Transformation: Research into Households and the Economy

2019 ◽  
Vol 6 (2) ◽  
Author(s):  
Heiko Schrader
Keyword(s):  
Everyday Life ◽  
Institutional Economics ◽  
Informal Institutions ◽  
New Institutional Economics ◽  
Institution Building ◽  
Research Projects ◽  
System Transformation ◽  
Market Society ◽  
Clear Cut

Starting from the distinction between short-term system transition (new institutional economics, political science) and system transformation as a long-term process of societal change, the author argues that institution-building is a long-term and complicated process and that informal institutions of everyday life do not change as quickly as the newly implemented formal ones. The author has a particular interest in the people’s economy of everyday life. He takes a look at three empirical research projects he conducted between 1997 and 2016, investigating whether informal institutions still undermine formal ones that are necessary for the functioning of a market economy. The research projects show particular characteristics. (1) a clear-cut double morality between bureaucracy and the rich, on the one hand, and the small people who have to protect themselves, on the other. (2) It is advantageous to know somebody in the lower bureaucracy (blat or other forms of bribery in everyday life). (3) Agents place strong reliance on personal face-to-face networks, including family networks, and avoid formal institutions. Indeed, many findings of the author support continuity even after almost 30 years of post-socialism, while some changes to the market society occur among better-off people.

scholarly journals General Concept of Neo-institutional Measurements of Business Processes

2019 ◽  
Vol 11 (4) ◽  
pp. 28-80
Author(s):  
Arkadiusz J. Derkacz
Keyword(s):  
Process Management ◽  
Institutional Economics ◽  
Business Processes ◽  
Thought Experiment ◽  
Value Added ◽  
Daily Basis ◽  
General Concept ◽  
New Institutional Economics ◽  
Effectiveness And Efficiency

Abstract Objective: General concept of neo-institutional measurements of business processes is an approach developed by the author, which fits in with the practical search for appropriate methods and tools that would optimize effectiveness and efficiency of business process management. The objective of the following discussion is to prove the thesis that effectiveness of business processes that take place within a company depends on the quality of support of such processes that is included in the set of supporting factors, as well as on neo-institutional determinants of business processes. Methodology: In the article, the author used primarily long-term observations of the functioning of enterprises, critical literature analysis and thought experiment. Findings: The concept was based on long-term of author’s experience in business management and it was essentially grounded in the model of the new institutional economics. On the basis of critical analysis of the literature and with the use of empirical research results from different industries and countries, it defines four hypotheses, which make ground for the concept in question. These are: hypothesis of rational change of condition, hypothesis of expected determinants of business processes, hypothesis of rational determinants of business processes and intensity of impact hypothesis. Value Added: The concept presents a new holistic and behavioral method for business processes analysis. Recommendations: The general concept of neo-institutional measurements of business processes may become a new economic approach concerning the issues of effectiveness and efficiency of business processes, but also it may become the ground for creation of a new catalogue of recommendations for managers, who, on a daily basis, make difficult managerial decisions.

scholarly journals “INSTITUTIONAL CAPITAL” AS A FACTOR OF SUSTAINABLE DEVELOPMENT ‐ THE IMPORTANCE OF AN INSTITUTIONAL EQUILIBRIUM / INSTITUCINIS KAPITALAS KAIP DARNAUS VYSTYMOSI VEIKSNYS – INSTITUCINĖS PUSIAUSVYROS SVARBA

2008 ◽  
Vol 14 (2) ◽  
pp. 144-150 ◽  
Author(s):  
Joost Platje
Keyword(s):  
Sustainable Development ◽  
Theoretical Model ◽  
Institutional Economics ◽  
Important Determinant ◽  
Informal Institutions ◽  
New Institutional Economics ◽  
Economic Effects ◽  
Formal Institutions ◽  
Institutional Capital

The main aim of this article is to provide a basis for changing the focus in New Institutional Economics (NIE) from the economic effects of institutions to the importance of “institutional capital” for sustainable development. First, a theoretical model of NIE is presented in the context of sustainable development. Then, the concept of an institutional equilibrium (where informal institutions support and strengthen formal institutions) is discussed as an important determinant of “institutional capital” stimulating or hampering sustainable development. Santrauka Šio straipsnio tikslas – pateikti naujos institucinės ekonomikos (NIE) pokyčius, kai pastebimas perėjimas nuo ekonominių institucijų efektų prie institucinio kapitalo plėtotės darnaus vystymosi kontekste. Visų pirma autorius pateikia teorinį NIE modelį darnaus vystymosi aplinkoje. Vėliau nagrinėjama institucinės pusiausvyros koncepcija (atvejis, kada neformalios institucijos palaiko ir stiprina formaliąsias institucijas). Autorius konceptualiai apibrėžia stimuliacinį ir prevencinį šios koncepcijos poveikį sąveikaujant instituciniam kapitalui bei darniam vystymuisi.

Oliver E. Williamson,

2016 ◽  
Author(s):  
Andrew B. Whitford
Keyword(s):  
Transaction Cost ◽  
Critical Analysis ◽  
Institutional Economics ◽  
Transaction Cost Economics ◽  
Antitrust Policy ◽  
New Institutional Economics ◽  
Policy Analysts ◽  
The Impact ◽  
First Time

This chapter comments on Oliver Williamson’s 1975 book,Markets and Hierarchies: Analysis and Antitrust Implications, a critical analysis of how firms operate in markets. Williamson describes a new way of understanding markets and hierarchies by using the term “New Institutional Economics” for the first time. This chapter examines Williamson’s approach and the impact of his book, first by discussing his arguments about markets and hierarchies in relation to what policy analysts sometimes call “the politics of ideas”. It then considers Williamson’s particular interest in antitrust policy as well as his thesis about transaction cost economics. Finally, it evaluates the implications of Williamson’s research for the long-term development of a politics of ideas about firms in markets.

scholarly journals How Institutions Shape Uncertainty and Risk

Internext ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. 238-251
Author(s):  
Stephanie Tonn Goulart Moura ◽  
Christian Daniel Falaster ◽  
Christine Elena Bianchi ◽  
Érica de Souza Mazato ◽  
Laura Taysa Espig
Keyword(s):  
Institutional Economics ◽  
Empirical Studies ◽  
Informal Institutions ◽  
Theoretical Explanation ◽  
New Institutional Economics ◽  
Primary Role ◽  
Strategic Decisions ◽  
Risk And Uncertainty ◽  
Formal And Informal Institutions ◽  
Shape Uncertainty

Purpose: The study proposes a conceptual framework on how institutions influence risk and uncertainty. Beyond the nuances in defining the concepts in the existing literature, the role of institutions in shaping risks and uncertainties remains understudied. This paper adopts the new institutional economics (NIE) perspective to revisit the concepts of risk and uncertainty and provide a deeper reflection about its interactions with formal and informal institutions. Method: Our conceptual model is based on four propositions that support a theoretical explanation about the relationships between institutions and uncertainties, institutions and risks, and uncertainties and risks. Findings: While formal institutions have a primary role in reducing uncertainties, informal institutions can be seen as a source of risk. These findings imply firms’ strategic decisions. In this regard, we also provide a research agenda for future empirical studies in the area. Originality/value: The study highlights the importance of institutions for companies to deal with risk and uncertainties. The institutions have a primary role in defining the “known part” of the uncertainty, allowing the companies to evaluate the different scenarios for decision-making. Theoretical/Methodological Contributions: This study differentiates risk and uncertainty interaction according to institutional theory. Additionally, we offer an academic discussion of how formal and informal institutions can shape risks and uncertainties.

Development, Informal Institutions and Agency Analyzed through the Lens of New Institutional Anthropology: A Modification of Ensminger’s Framework on Institutional Change

2017 ◽  
Vol 137 (1-2) ◽  
pp. 69-91
Author(s):  
Johanna Friederike Goetter
Keyword(s):  
Institutional Change ◽  
Political Institutions ◽  
Institutional Economics ◽  
Informal Institutions ◽  
New Institutional Economics ◽  
Wide Range ◽  
The Status ◽  
Specific Outcome ◽  
History Of ◽  
The Impact

In development research, much effort has gone into analyzing the impact of economic and political institutions and their adequate design. However, unforeseen factors such as the impact of the cumulative behavior of individuals as shaped by informal institutions – especially social norms and moral values – may also determine the pace and path of development. Thus, positive economic, social or political triggers may only then translate into development if the relevant actors adapt their strategies and actions appropriately. Similarly, while negative triggers may induce a deterioration of the socioeconomic situation if no adaptation or a mal-adaptation takes place, in another real-world setting with a different set of institutions and actors it may in turn be possible to preserve the status quo. Sound analytical frameworks are needed to gain a deeper understanding of the complex and dynamic interaction of factors leading to a case-specific outcome and history of change. These frameworks have to be specific enough to allow the interpretation of complex changes and dynamics and at the same time general enough to fully cover a broad range of diverse settings and all important but possibly unforeseen aspects. In this paper, I present a modified version of the Framework for Modeling Institutional Change developed by Jean Ensminger (1992). Accounting for the relationships and dynamics of incentives, formal and informal institutions, bargaining power and the constellation of actors, Ensminger’s framework, which is rooted in the theoretical approach of New Institutional Anthropology, merges important aspects from New Institutional Economics and anthropology. However, it fails to leave room for agency which, as the paper illustrates, has been shown to play an often important role in development. The modified version of Ensminger’s framework incorporates agency as a main factor. For the purpose of demonstration, it is applied to a case study on informal constraints to cope with cattle rustling in Madagascar. The paper illustrates the modified framework’s analytical strength for a meticulous investigation of a wide range of empirical cases and discusses to which development-related cases and research interests it fits best. JEL Codes: B52, O1, N57, Z13

Transnational Law and Economic Sociology

2021 ◽  
pp. 66-88
Author(s):  
Sabine Frerichs
Keyword(s):  
Global Economy ◽  
Economic Sociology ◽  
Institutional Economics ◽  
Law And Economics ◽  
New Institutional Economics ◽  
Market Society ◽  
Transnational Law ◽  
The Law ◽  
Economic Perspectives ◽  
Different Levels

Transnational law interacts in various ways with the law of the global economy. Students and experts of transnational law will therefore most likely come across economic arguments. Economic sociology questions mainstream economic perspectives, including their adaptations to the law, and also differs from new institutional economics. By integrating different levels of analysis, economic sociology, and related scholarship in critical political economy, seeks to provide a more comprehensive account of the interrelations of law, economy, and society—and of the rationalities at play. This chapter outlines an economic sociology of law which exposes the constructed nature of the law of the global economy and elucidates the elective affinity between law and economics, which also affects our understanding of transnational legal ordering. To reconstruct this tendency, the chapter develops the concept of the law of market society, which has a critical potential with regard to more conventional perspectives on transnational economic law.

Vertical Restrictions: Development of Theory, Antitrust Legislation and Enforcement

2010 ◽  
pp. 110-122 ◽  
Author(s):  
S. Avdasheva ◽  
N. Dzagurova
Keyword(s):  
Institutional Theory ◽  
Institutional Economics ◽  
Theory Of The Firm ◽  
New Institutional Economics ◽  
Hierarchical Organization ◽  
Vertical Restraints ◽  
New Institutional Theory ◽  
Antitrust Laws ◽  
Antitrust Legislation ◽  
Market Organization

The article examines the interpretation of vertical restraints in Chicago, post-Chicago and New Institutional Economics approaches, as well as the reflection of these approaches in the application of antitrust laws. The main difference between neoclassical and new institutional analysis of vertical restraints is that the former compares the results of their use with market organization outcomes, and assesses mainly horizontal effects, while the latter focuses on the analysis of vertical effects, comparing the results of vertical restraints application with hierarchical organization. Accordingly, the evaluation of vertical restraints impact on competition differs radically. The approach of the New Institutional Theory of the firm seems fruitful for Russian markets.

El Prestige: comparativa de los regímenes internacionales de responsabilidad civil

2019 ◽  
Vol 37 (3) ◽  
pp. 31
Author(s):  
Raquel Fernández González ◽  
Marcos Íñigo Pérez Pérez
Keyword(s):  
Institutional Economics ◽  
Geographical Area ◽  
New Institutional Economics ◽  
Rigorous Analysis ◽  
Judicial Process ◽  
Main Research ◽  
Civil Responsibility ◽  
The One ◽  
High Degree ◽  
The Prestige

The return of institutions to the main research agenda has highlighted the importance of rules in economic analysis. The New Institutional Economics has allowed a better understanding of the case studies that concern different areas of knowledge, also the one concerning the management of natural resources. In this article, the institutional analysis focuses on the maritime domain, where two large civil liability regimes for pollution coexist (OPA 90-IMO), each in a different geographical area (United States - Europe). Therefore, a comparative analysis is made between the two large regimes of civil responsibility assignment applying them to the Prestige catastrophe. In this way, the allocation and distribution of responsibilities in the investigation and subsequent judicial process of the Prestige is compared with an alternative scenario in which the applicable compensation instruments are governed by the provisions of the Oil Polution Act of 1990 (OPA 90), in order to establish a rigorous analysis on the effects that the different norms can have in the same scenario. In the comparative established in the case of the Prestige, where the responsibilities were solved very slowly in a judicial process with high transaction costs, the application of rules governed by the OPA 90 would not count with such a high degree of imperfection. This is so, since by applying the preponderance of the evidence existing in OPA 90 there would be no mitigation for the presumed culprits. On the other hand, the agents involved in the sinking would not be limited only to the owner, but also that operators or shipowners would be responsible as well. In addition, the amount of compensation would increase when counting in the damage count the personal damages, the taxes without perceiving and the ecological damage caused in a broad sense, damages not computable in the IMO.

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